On August 23, Alibaba Group announced that it has added Hong Kong as its main listing location and will primarily list on the main board of the Hong Kong Stock Exchange on August 28, becoming a dual major listed company on both the Hong Kong Stock Exchange and the New York Stock Exchange. The announcement states that Alibaba's dual primary listing in Hong Kong does not involve new stock issuance or financing.
In July 2022, Alibaba submitted an application for a major listing in Hong Kong. Data shows that since Alibaba's second listing in Hong Kong in 2019, most of its publicly traded shares have been transferred to Hong Kong. In terms of market value and trading volume, Alibaba has consistently ranked among the top three Hong Kong stocks, making its main listing a natural occurrence. Double listing in Hong Kong and New York will further expand the investor base from mainland China and other parts of Asia, promote shareholder diversification, enhance the liquidity of Alibaba's Hong Kong stock, and provide greater flexibility for investors to hold and trade Alibaba shares in the public market.
According to institutional research reports, the market widely expects Alibaba to meet the conditions for inclusion in the Hong Kong Stock Connect after completing its dual major listing in Hong Kong, and is expected to be included in the Hong Kong Stock Connect as early as September.